One, of the most common cases to be filed in US, bankruptcy is the last resort for debtors who are facing an extreme situation of debt. Yet often the suitability of filing bankruptcy under certain situation is questioned and many debtors try and avoid filing bankruptcy as long as possible.

What choices does one have in Michigan for managing debts apart from bankruptcy filing?

Bankruptcy filing is the last resort in extreme situation. One can also go for debt settlement, reaffirmation plans and negotiate with the creditors and lastly debt consolidation. Each of these choices will require good negotiating skills and you have to pay off whole or a part of the debt you have incurred. Managing the money for paying off is the most crucial part. While you can pay off the amount over a certain span of time, the amount of debt that you are paying is an important factor to be taken into account.

How can I understand whether bankruptcy is the best option or not for me?

There are a lot of factors that should be considered in deciding whether bankruptcy is the best option for you. The amount of your debt is a major factor to be considered. If it is too huge to be paid through any of the choices mentioned above then bankruptcy should be considered and is the only choice that is left to you. The type of debt that you have incurred is also another that decide whether bankruptcy is your best choice. While credit card debts and similar one can be wiped out through bankruptcy, student loans, and child support cannot so choose accordingly. The last thing that you should consider is whether you are ready for taking a step as crucial as bankruptcy filing as there is no turning back once the procedure begins.

Consult a professional bankruptcy lawyer

While you can make a basic judgment of your situation, a bankruptcy lawyer who has been in the bankruptcy business for long can analyze your situation far more critically and minutely. Every case of debt is different from one another and hence requires handling in the right way and a professional can do exactly that and provide you the necessary advice.

File bankruptcy when there is still time

Filing bankruptcy within a certain period of time is ideally the most advantageous choice that you can make, so while pondering and considering every available option is necessary, be sure not to take up too much time and miss out on the best time for filing your case. Your bankruptcy attorney can decide when filing bankruptcy would be the best for you.

At A Better way Bankruptcy (Affordable Detroit Bankruptcy Attorney) , we strongly advise our clients to get an appointment for a consultation early even if you are not very interested with bankruptcy. This way while providing you sound advice we can also let you know the best time for filing bankruptcy if you finally resort to it. So book your consultation with us at the toll free number 844-372-7324.

An In depth Analysis of Bankruptcy

Simply put, bankruptcy is federal debt relief. It is a process without which individuals, businesses, or any other enterprise risks being stripped of their hard-earned assets. This law affords them federal protection from this embarrassing situation and helps them reduce their debts. In Michigan, going bankrupt is a common occurrence. It is something that has been there for decades and the number of bankruptcy lawyers setting up there can attest to this. However, despite the massive number of bankruptcy attorneys, many of them still offer expensive services to clients and have little experience. In order to make the process smooth and hassle-free, experienced and affordable bankruptcy lawyers such as those of A Better Way Bankruptcy in Michigan should be hired. It has its offices in Southfield and Sterling Heights and serves residents from diverse areas within Michigan.

The bankruptcy process is emotionally and financially draining. Very few attorneys can competently handle this process since it requires an in-depth knowledge of the law. Furthermore, they need to constantly update themselves on the small changes to the law. Experience, therefore, should be one of the requirements used when looking for a bankruptcy attorney. One should also consider the client reviews on their website. Without thinking about these things beforehand you may hire a lawyer who will run dry your finances and leave you in a worse state.

Bankruptcy is broadly grouped into two types; liquidation and re-organization debt relief. Liquidation debt relief is Chapter 7 and re-organization debt relief is Chapter 13 of the bankruptcy code. Both are filed by individuals (not a business or corporation) and it gives protection against losing your personal assets such as clothes and household items such as furnishings. Property can only be sold to pay off the debts but the bankruptcy allows for assets to be exempted and protected. Our bankruptcy attorney has a lot of knowledge of how to let you keep all your assets. By hiring A Better Way Bankruptcy during this process you can rest assured that all will go well from the beginning to the end.

Whether you qualify for a Chapter 7 or a Chapter 13 is determined by a means test. Our attorney can perform this means test at the free consultation to tell you which chapter you should file.

Chapter 7 bankruptcy discharges all unsecured creditors with the exception of student loans, child support, and certain tax debts. From filing to discharge, Chapter 7 takes an average of 5 months. Chapter 13 bankruptcy is a reorganization which takes into account your income, expenses, and all the creditors you owe. A Chapter 13 is filed if you own a home that is going into foreclosure and you want to keep it or if you have a car that will be repossessed by the finance company. The Chapter 13 Plan allows you to be able to repay those and other creditors and let you keep your house and car. A Chapter 13 bankruptcy plan lasts 3 or 5 years.

Bankruptcy can be a challenging process. Let A Better Way Bankruptcy help you through this process.

It is advisable that one hires a lawyer who has specialized in bankruptcy since you are certain that they will be committed to your case. Those who handle many different types of law may not have sufficient time to analyse your case and give the right guidance. With over 24 years of experience, the attorney at A Better Way Bankruptcy has filed many cases to stop garnishments.

At A Better Way Bankruptcy we will take the time at the free consultation to discuss your situation and determine whether or not you need to file a bankruptcy. In some cases, even with a garnishment filed, a debtor cannot be garnished. If the filing of a bankruptcy is needed, the attorney will determine whether Chapter 7 or Chapter 13 is best to be filed and draft the appropriate documents.

In some cases, our attorney is able to get some of the garnished money returned. It depends on certain factors and he will gladly discuss those with you.

The Pros of Hiring a Bankruptcy Attorney

A bankruptcy lawyer can be described as a legal professional who will guide and counsel you with respect to your financial state. The attorney at A Better Way Bankruptcy has been practicing bankruptcy for over 23 years.

Best bankruptcy attorney

A bankruptcy attorney plays a crucial role in advising individuals who are in financial crisis and they assist people in filing for bankruptcy under the Bankruptcy Code; they give advice on which chapter of bankruptcy is best for you and if you need to file bankruptcy at all. If you file your bankruptcy alone, you may face issues and not know how to resolve them and you may not receive a discharge in the end. It is, therefore, advisable that you get an experienced bankruptcy attorney since he or she is conversant with every aspect of the law.

There are advantages of hiring an experienced bankruptcy lawyer. These are explained below;

The bankruptcy attorney will assess your situation and give you the right action to take.

They may advise you not to file a bankruptcy case at all if it isn’t in your best interest.

They advise the client on the bankruptcy chapter that is right for them.

An experienced bankruptcy attorney has built a rapport with the trustees and judges.

They are up to date on the laws and any changes to the laws, or to the local rules that govern your case.

They know of all the deadlines and requirements of each case and can anticipate potential issues before they become a problem.

A Better Way Bankruptcy’s attorney, with more than 23 years of experience, can help you with all of those items listed above. Don’t go through it alone. Let A Better Way Bankruptcy help guide you through the process and help you get a fresh start.

To set up your FREEinitial CONSULTATION for your affordable bankruptcy…

Identifying Your Ideal Bankruptcy Attorney In Southfield, MI

When you find yourself in need of a bankruptcy attorney it can be overwhelming sorting through the numerous bankruptcy attorneys available to you, especially in the SouthField, Michigan area. You do not have to worry though, there are various attributes that can help you sift the best debt relief lawyer from the rest. Price should not be your only criteria; you need an attorney with years of experience in bankruptcy law. You want an attorney who not only knows the laws and procedures well, but also knows the judges and trustees. An attorney with a good rapport with the judges and trustees is a huge asset for you, the client.

A Better Way Bankruptcy is a highly reputed bankruptcy firm in Michigan that has proudly serves Southfield and the entire metropolitan Detroit area and suburbs for over 25 years. With offices conveniently located in Southfield and Sterling Heights,A Better Way Bankruptcy is a debt relief agency that takes pride in its highly professional and experienced bankruptcy attorneys. It is proud of the highly respected rapport it holds with all the judges and trustees.

They should be willing and able to thoroughly explain the bankruptcy process.

They should be able to handle all aspects of your bankruptcy case.

They should be willing to be with you from beginning to end.

They should give you a clear outline of the fees charged and the services covered by the fees.

They should be highly experienced and knowledgeable with the state, federal, and local debt relief laws.

They should give you a good feeling that they and their office are the right fit for you.

Make a list of questions you have before your consultation and never shy off from asking them the questions. Be very keen on the way they answer each question and make sure and question anything that is unclear to you or that you do not understand. If they give you a feeling that they are unsure, or seem to be evasive in their answers, then you may want to call another bankruptcy attorney in Southfield, MI, or wherever you are located.

Prices or fees charged should never be a deciding factor when choosing your bankruptcy lawyer in Southfield or elsewhere. You do yourself a great disservice when you choose an attorney based solely on price. Would you choose a heart surgeon based on who is cheapest, or who is best ? The same applies here. You are trusting your financial future to this person. Choose wisely. Luckily, prices are relatively low now for bankruptcy attorneys in Southfield, MI and elsewhere. Make sure that when you call an attorney you ask not only his charges, but also how many years experience he has in bankruptcy law, not just how many years he has been an attorney.

No attorney should give you his price over the phone as it is nearly impossible to gauge the complexity of a case without all the details needed. This would mean he would need to see bank statements, tax returns, income statements and all your debts in order to make an educated appraisal of your case and its costs. He should be able to give you a range for his fees. Remember there are also court costs added on to these fees.